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American Express Cash Magnet® Card vs American Express® Gold Card

Compare Rewards, Interest Rates, Fees, and Benefits

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Cash Magnet is a great all-around cashback card. How does it compare to American Express Gold, a points charge card? Read our comparison chart below.

Charge Card vs Credit Card: American Express Cash Magnet® Card is a credit card while American Express® Gold Card is a charge card. If you plan to carry a balance, avoid charge cards as they usually require that you pay in full.

 American Express Cash Magnet CardAmerican Express Gold Card
 Apply NowApply Now
 

American Express Cash Magnet® Card

American Express® Gold Card

 Personal Credit CardPersonal Charge Card
 
Introductory Bonus Cash BackCash Back Rewards$0 Fraud Liability
Introductory Bonus OfferAirline RewardsPoint RewardsGrocery RewardsNo Pre-Set Spending Limit
 
  • Earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership.
  • Unlimited 1.5% Cash Back on your purchases.
  • Cash Back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 14.49% to 25.49%.
  • 0% introductory plan fee for plans set up during your first 15 months of Card Membership with Plan It®, a feature that lets you split up big purchases into monthly payments with a fixed fee.
  • Over 3 million more places in the U.S. started accepting American Express® Cards in 2017 and 2018.
  • No Annual Fee.
  • Terms Apply.
  • See Rates & Fees
  • Earn 35,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 3 months.
  • Earn 4X Membership Rewards® points when you dine at restaurants worldwide. Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
  • Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth's Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
  • $100 Airline Fee Credit: up to $100 in statement credits per calendar year for incidental fees at one selected qualifying airline.
  • Choose to carry a balance with interest on eligible charges of $100 or more.
  • No Foreign Transaction Fees.
  • Annual Fee is $250.
  • Terms Apply.
  • See Rates & Fees
 

Card Interest Rates & Fees

Introductory APR for Purchases0% introductory APR on purchases for 15 monthsN/A
Introductory APR for Balance Transfers0% introductory APR on balance transfers for 15 monthsN/A
Purchase APR14.49% to 25.49% Variable based on your creditworthiness and other factorsSee Rates & Fees
Balance Transfers APR14.49% to 25.49% Variable based on your creditworthiness and other factorsSee Rates & Fees
Foreign Transaction Fee2.7% of each transaction after conversion to US dollars.No foreign transaction fee
Annual Fee$0 annual fee$250 annual fee
 

Card Rewards & Benefits

Introductory Bonus Cash BackEarn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership. 
Introductory Bonus Offer Earn 35,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 3 months.
Cash Back RewardsUnlimited 1.5% Cash Back on your purchases. 
Airline Rewards Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
Point Rewards Earn 4X Membership Rewards® points when you dine at restaurants worldwide. Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
Airline Status $100 Airline Fee Credit: up to $100 in statement credits per calendar year for incidental fees at one selected qualifying airline.
Grocery Rewards Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X).
Dining Rewards Earn 4X Membership Rewards® points when you dine at restaurants worldwide.
Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth's Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
Airline Transfer Partners Airline transfer partners include Delta, Hawaiian Airlines, Aeromexico, Air Canada, Air France, Emirates, Cathay Pacific (Asia Miles), Virgin Atlantic, Singapore Airlines, Etihad, Alitalia, All Nippon Airways and more.
 Go to issuer's official application, terms, and detailsGo to issuer's official application, terms, and details
 

CreditDonkey® Card Reviews

 American Express Cash Magnet CardAmerican Express Gold Card
Pros & ConsPros:
  • 1.5% unlimited cash back
  • Intro APR
  • No annual fee
Cons:
  • Not a Visa/MasterCard
  • Foreign transaction fee
Pros:
  • Welcome bonus
  • Airline fee credit
  • 3x points for flights booked directly with airlines
Cons:
  • $250 annual fee
Bottom LineGreat all-around cashback card... Read full reviewGood rewards card for cardholders who fly frequently or eat out... Read full review
 Apply NowApply Now
What Others View

    See issuer's website for details including terms and conditions. While reasonable effort has been made to maintain accurate and updated information, the information shown on this site may vary, be out of date, or not applicable to you. All information is provided without warranty. When you click on the Apply Now button, you can review the terms and conditions on the issuer's website.

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the issuer's website for details.

    Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by American Express.


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    Compare Cash Magnet to:

    Blue Cash Everyday
    Introductory Bonus Cash BackCash Back RewardsGas RewardsGrocery RewardsCar Rental InsurancePurchase Protection$0 Fraud Liability
    Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
    0% on Purchases for 15 months
    0% on Balance Transfers for 15 months
    14.49% - 25.49% Variable
    $0

    Chase Freedom Unlimited
    Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
    0% for 15 months
    0% for 15 months
    16.49% - 25.24% Variable
    $0

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    Compare American Express Gold to:

    Chase Sapphire Preferred

    Chase Sapphire Preferred® Card

    Intro APR (Purchases)Intro APR (Balance Transfer)Regular APR
    N/AN/A
    17.49% - 24.49% Variable
    Annual Fee
    $95
    American Express Platinum

    The Platinum Card® from American Express

    Introductory Bonus OfferTravel RewardsAirline RewardsHotel Rewards
    Annual Fee
    $550
    Blue Cash Preferred

    Blue Cash Preferred® Card from American Express

    Introductory Bonus Cash BackCash Back RewardsGas RewardsGrocery Rewards
    Intro APR (Purchases)Intro APR (Balance Transfer)Regular APR
    0% on purchases for 12 months
    0% on balance transfers for 12 months
    14.49% - 25.49% Variable
    Annual Fee
    $95


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    *See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

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